Hi All,
I think the end is near for this pair as USD rallied despite the massively low employment figures. I seems like the remaining USD buyers are closing their orders which has creating an even bigger divergency across the board so a rally from EUR should happen imminently.
Here's a quick recap of my wave count of the final wave C which looks complete.
Starting from the low at 1.03411
Wave 1: Leading Diagonal impulse move to the upside.
Wave 2: Looking like an running wave A) double ZZ combo (WXY), wave B) Expanded Flat
Current wave C) I have counted the primary and sub waves as labelled with wave 4 fib extensions, wave 2 (ZZ) and wave 4 (Flat) - rule of alternation all met and wave 5 is an ending diagonal which is a terminal move so a change of direction is expected.
Hopefully we will see a big rally by EUR next week as it is the start of wave 3 in a bigger timeframe.
Best of luck all...
Don
I think the end is near for this pair as USD rallied despite the massively low employment figures. I seems like the remaining USD buyers are closing their orders which has creating an even bigger divergency across the board so a rally from EUR should happen imminently.
Here's a quick recap of my wave count of the final wave C which looks complete.
Starting from the low at 1.03411
Wave 1: Leading Diagonal impulse move to the upside.
Wave 2: Looking like an running wave A) double ZZ combo (WXY), wave B) Expanded Flat
Current wave C) I have counted the primary and sub waves as labelled with wave 4 fib extensions, wave 2 (ZZ) and wave 4 (Flat) - rule of alternation all met and wave 5 is an ending diagonal which is a terminal move so a change of direction is expected.
Hopefully we will see a big rally by EUR next week as it is the start of wave 3 in a bigger timeframe.
Best of luck all...
Don
Comment:
Looking at the fall since last week's NFP and looks like the ending diagonal count I had is right.
I've now seen a wave 1 and 2 at a 5 minute timeframe so now looking for a wave 3 extension as marked.
Watch this pair carefully this week as it could make some big moves to the upside.